Freda Rebecca production up 34pc

HARARE - Pan-African mining group, Mwana Africa PLC (Mwana) says it has recorded a 34 percent increase in gold production to 18,350 ozs at its Freda Rebecca gold mine.

Mwana said the mine had achieved recoveries of 83 percent for the quarter, highest average recoveries in 2012.

“Freda Rebecca achieved C1 cash costs of $797/oz down from $815/oz in the previous quarter.”

The London-listed company said it had concluded Bindura Nickel Corporations (BNC) rights issue and restructuring, allowing the nickel miner to commence operations with first sale of concentrate expected in the second quarter of 2013.

“BNC: first drilling results from Trojan since the recapitalisation and restructuring of BNC was completed during Q3, key mineralised intercepts received post period include.”

Chief executive Kalaa Mpinga said, “This has been another very pleasing and positive quarter for the company with record levels of gold production achieved at Freda Rebecca since operations were restarted in 2009.

“I am also delighted by the progress shown at Trojan following the successful conclusion of the recapitalisation and restructuring of BNC.

“I look forward to updating shareholders with news of the refurbishment programme now underway as the company moves towards the sale of its first nickel concentrate in Q2 2013.” - Business Writer

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